Oilfield Services

In the Mexico energy industry, the prevailing challenge “is the uncertainty about when the rules are going to change again,” said Alma Del Toro, President of Blue Bull Energy. “And because Mexico keeps changing its mind, that creates the worst nightmare for any investor.” Del Toro, who has more than 25 years of experience in…

Texas’ upstream natural gas and oil industry added 5,200 direct jobs from March to April, bringing the state’s latest direct upstream headcount to 190,400, the Texas Independent Producers and Royalty Owners Association (TIPRO) said Friday. “Texas operators are responding to the call to increase production, despite facing numerous challenges, including inflationary pressures, workforce shortages and…

Laredo Petroleum Inc. has locked in pricing for most of its oilfield services operations through the rest of this year to counter inflation, but costs for the diesel fuel and chemicals needed to sustain them remain harder to predict. “We worked with our service partners to lock in 85% of expected drilling, completions, equipment and…

Denver-based Centennial Resource Development Inc., whose operations are focused on the Permian Basin, is sticking to its guidance of upping production by 10-15% this year. In an earnings call, CEO Sean Smith said the company was holding to its current two-rig program. “Should we want to add a third rig in the future because prices…

Gibson Energy Inc. is maintaining talks about expansions and its energy transition goals as it stacks gains from the first three months of the year thanks to increased commodity prices. The Calgary oilfield service firm’s gains were led by the oil marketing business, according to the company. Volumes grew by 20% to 58,088 b/d in…

More demand for oil and gas equipment has put oilfield technology expert NOV Inc. in a sweet spot for 2022, with the bitter sting of rising costs and broad supply chain issues likely to continue for some time, according to the management team. CEO Clay Williams held the microphone to discuss 1Q2022 results and the…

Top oilfield services contractor Helmerich & Payne Inc., whose rig technology is used around the world, is eyeing higher contract revenue as oil and natural gas supply tightens and demand expands. During a conference call to discuss fiscal 2Q2022 results, CEO John Lindsay said exploration and production (E&P) customers are remaining disciplined about their capital…

Atlanta-based RPC Inc., which provides an array of oil and natural gas services for global customers, saw business improve “moderately” during the first quarter, but the pace is set to accelerate through the year, CEO Rick Hubbell said. The 1Q2022 activity levels by the exploration and production (E&P) customers began to improve early this year,…

Denver-based Liberty Oilfield Services Inc., one of the largest completions experts in North America, is gearing up for increasing activity as exploration customers expand, according to CEO Chris Wright. The hydraulic fracturing (fracking) expert issued its first quarter results on Thursday, with Wright helming the conference call. Quarterly revenue jumped 16% sequentially – a strong…